SpaceX: $600 to $900 Billion in Valuation Wiped Out - The Brutal Return of Gravity

Since its mid-June 2026 peak, SpaceX has lost between $600 billion (Seeking Alpha) and nearly $900 billion (Le Figaro) in market value, depending on the measurement dates used. Debt financing plans, a global tech sell-off, and governance concerns have combined to dampen investor enthusiasm.

The Fact

SpaceX has undergone a brutal correction since its peak on June 16, 2026: Seeking Alpha estimates the loss in value at $600 billion, while Le Figaro (June 23, 2026) puts it at "nearly $900 billion" - two measurements reflecting different moments in an ongoing sell-off at the time of publication. The stock (traded on an unofficial secondary market) fell below $150 before a partial rebound. Reports indicate debt financing plans that may have cooled investor enthusiasm regarding the company's capital structure.

Our Take

The correction highlights the fragility of a private valuation entirely driven by narrative, without public market discipline. Three factors converge: 1) the global tech sell-off is compressing all long-duration multiples; 2) debt financing plans raise questions about short-term liquidity needs; 3) governance issues (Musk’s unilateral decisions, minority shareholder access) remain structurally unaddressed. SpaceX remains an indicator of AI/space sentiment-not a stable fundamental.

To Watch

Details of SpaceX’s debt financing; Starship V4 announcements; progress toward a potential IPO; evolution of Schwab SPCX shareholders.